Pound rises on Barnier’s Brexit comments

The pound rose more than 1% against the dollar on Monday, after the EU’s chief negotiator said a Brexit deal was possible within eight weeks “if we are realistic”. Sterling later fell back slightly to $1.3042 by the end of the afternoon. It is the second time in less than a week, Michel Barnier has made comments interpreted as suggesting the EU may be softening its negotiating stance. The euro also rose against the dollar by around 0.5%. The possibility that the UK might crash out of the EU without a negotiated settlement has weighed on sterling in recent weeks.Read More @ https://www.bbc.co.uk/news/business-45476845

China’s exports are slowing. The trade war will make things worse – The Chinese economy’s massive export engine is slowing down as the trade war heats up. A new salvo from the United States could push it into reverse.

Growth in Chinese exports weakened to just under 10% in August, down from more than 12% the previous month, according to government data published over the weekend. The performance is significantly below China’s average for the year so far. Read More @ https://money.cnn.com/2018/09/10/news/economy/china-exports-trade-war/index.html?section=money_markets&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_markets+%28CNNMoney%3A+Markets%29

China Sees Hints of a Past Threat: Inflation

BEIJING — Pork is up. Vegetables are up. Gasoline is up. Even the official numbers, usually tame, are up. Prices are rising in China — and that could complicate Beijing’s efforts to prop up a slowing economy and navigate President Trump’s trade war. Chinese officials said Monday that an index of consumer prices rose in August for the third consecutive month. The increases are not particularly sharp, and Chinese economists point to a number of temporary factors pushing up prices, like floods that have damaged crops and a swine flu epidemic that led farmers to cull pigs. Still, investors and the Chinese public alike are casting a wary eye on prices. Read More @ https://www.nytimes.com/2018/09/10/business/china-prices-inflation.html?partner=rss&emc=rss

WHAT IS THE USD TECHNICAL CHARTS SAYING?

The USD is under pressure back again; we believe the rally for the USD will stop for awhile as China becomes the main news – time to pay attention to USDCNH & USDJPY.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES TODAY.

  1. 9.30am – Australia will release NAB Business Confidence – It’s a leading indicator of economic health – businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment – expected to be good.
  2. 4.30pm – UK will release critical news – Average Earnings & Employment data – volatility expected – we stay neutral.
  3. 5.00pm – EURO will release Germany Zew Economic Sentiment – It’s a leading indicator of economic health – investors and analysts are highly informed by virtue of their job, and changes in their sentiment can be an early signal of future economic activity – Volatility is expected in favor for EURO.
  4. 10.00pm  -US will release Final Wholesale Inventories – It’s a signal of future business spending because companies are more likely to purchase goods once they have depleted inventories – little or no movement expected.

The market will continue to consolidate for next week major news which is “FOMC”. Always have good risk and reward and maintain good money management at all times.

High Risk Investment Warning:

Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary.

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